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and tell him we love him. >> we had also seen reports that he may have asperger's or also attention deficit disorder, that he may have had a couple challenges like that. did you ever see anything like that? do you think -- how will that impact him here as he starts down this path of healing? >> well, i honestly believe that ethan will probably -- it's a shame that this had to happen but for any child that i believe will bounce back better than any child i know of, would be ethan. he meets no strangers and i just feel confident he's going to bounce back and we hope to have him in school as quickly as possible. >> so special that you say that. i want to ask you a little about his mother. you just heard me share the statement that she released to the media which was so eloquent and gracious. she also, according to a state senator, said this when the fbi, they were debating whether to go in and kill jimmlee dykes earlier. she was the one, according to the state senator who said she put her hand on the officer's heart and said sir, don't hurt him, he's sick. smith told that today to abc news. th
and tell him we love him. >> we had also seen reports that he may have asperger's or also attention deficit disorder, that he may have had a couple challenges like that. did you ever see anything like that? do you think -- how will that impact him here as he starts down this path of healing? >> well, i honestly believe that ethan will probably -- it's a shame that this had to happen but for any child that i believe will bounce back better than any child i know of, would be ethan. he...
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you see this regarding eric cantor, who is giving a much-hyped speech regarding the deficit and towards a broader and more inclusive role they can play. he says mr. cantor can apply the existing gop policies. so that, i think at this point in time is a great question for the republican party at least right now. can their response to the 2012 election be to just change the tenor and temperature of their approach to politics rather than the actually policies. can they just stop primarying guys like dick luger without changing the approach to say, inequality. that is the message, changing your hope is different than changing your policies. it is great to have you both here, thank you for joining us. >> great to be here. >> molly, so can they? do they need to do more, need to sort of go back and look at policies or can you actually get pretty far just by changing the way your party acts in public? >> i think the answer is yes. they have to do both. and first of all the republicans find themselves in a situation that the democrats found themselves in maybe a decade ago, where they are on the
you see this regarding eric cantor, who is giving a much-hyped speech regarding the deficit and towards a broader and more inclusive role they can play. he says mr. cantor can apply the existing gop policies. so that, i think at this point in time is a great question for the republican party at least right now. can their response to the 2012 election be to just change the tenor and temperature of their approach to politics rather than the actually policies. can they just stop primarying guys...
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Feb 10, 2013
02/13
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we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get closer to the date there is more and more anxiety, understandably. they are trying to provide notice to employees about things that can be expected, but the problem is it affect each agency differently, so there is not one rule of thumb that will apply to every federal agency. part of the impact will depend on the extent to which employees make up most of the budget, as opposed to agencies that have more of a procurement budget or their budget is contracted out. i should emphasize that while it will hit federal employees and that is not good for anyone, that will hurt -- it will hurt around the country. let's ta
we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get...
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this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had throw years of recovery relative to europe. if we're ever going to take the hit this is a better time to take t if this were three years ago, i would be arguing right with you. i think we can take a chance. when are we going to get the chance to take these cuts in the pentagon or take a bite out of the deficit? i think it's worth it. >> now twittering dean quester. >> if he would stop blaming someone else other than himself and man up and take responsibility. >> kris hayes, i'm sure your guests will have much more explaining on kicking the can down the road. >> thank you. >>> ousted fox news contributor says he's on a mission fo
this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had...
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his party, focusing on issues like education and health care and spend less time talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the national council for a new america that didn't work. a year later, cantor was back at it. he was one of the young guns ready to take the republican party by storm. >> there is a better way, and a new team is ready to bring america back. eric cantor, kevin mccarthy, paul ryan joined by common-sense conservative candidates from across the country. together, they are ready to make history. together they are the young guns. >> the good old days. in 2011, cantor launched the you cut program. he wanted to get the public to vote on weekly cuts to federal government. another year, another failure. so today cantor launc
his party, focusing on issues like education and health care and spend less time talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the...
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as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75
as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets,...
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why this nobel prize winner says the deficit doesn't matter now and why the government needs to spend even more money. >>> he ran two of the nation's largest and most important companies and turned around general motors. i'll talk lessons learned, the state of american business and the future with ed whitacre. >>> and bling, if you've got the cash, they've got the jewels. the perfect valentine's day gift if you have deep pockets. jewels, anyone? "on the money" begins right now. >> this is america's number one financial news program, "on the money." now, maria bartiromo. >> here's what's making news as we head into a new week "on the money." it is the u.s. government versus standard & poor's. the most aggressive move yet by the justice department to hold accountable a financial company at the center of the financial melt down of 2008. the $5 billion civil suit charges s&p intended to defraud investors, aaa ratings they did not deserve. standard & poor's' attorney says not so farst fast. >> the ratings that were issued were believed by the people who issued them and that's what the gove
why this nobel prize winner says the deficit doesn't matter now and why the government needs to spend even more money. >>> he ran two of the nation's largest and most important companies and turned around general motors. i'll talk lessons learned, the state of american business and the future with ed whitacre. >>> and bling, if you've got the cash, they've got the jewels. the perfect valentine's day gift if you have deep pockets. jewels, anyone? "on the money" begins...
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he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall street packs that can raise tens of billions of dollars. and we can do some cutting, but in that cbo report that you mentioned, it also said that the kind of austerity program which the sequester would represent would be damaging to the recovery, would hurt gdp, and, of course, that's in line with what most economists believe. i think we've got to be very careful when we just say we've got a cut, without regard to the impact of those cuts, both on the economy and on some very important programs. >> you know what the republicans' answer to that is. they say one of the conce
he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall...
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she's part of the progressive caucus which produced his own plan this week to trim the deficit without cuts to our safety net. congresswoman, let me go to you first. the president made it clear he'll fight for what he believes is right. will republicans fold yet again? >> well, i certainly hope they will. apparently, john boehner said we're done with taxes. the president was very clear that when meeting the economic and fiscal challenges ahead, that he wants to keep in perspective whether the cop or the receptionist was able to make it. and he did contrast it with what the republicans want. and they want to cut medicare and social security. and so he said fine, let's argue this out in the public. and he clearly felt confident that he and we would win if that bat 8 takes place. >> now, the reason i'm asking, congresswoman, is "politico" is reporting that the economy is crumbling. let me quote. >> if that is true and the democratic caucus stands together and the president stands firm, they will have backed down yet again. >> exactly. you know, reverend al, that this sequester was never i
she's part of the progressive caucus which produced his own plan this week to trim the deficit without cuts to our safety net. congresswoman, let me go to you first. the president made it clear he'll fight for what he believes is right. will republicans fold yet again? >> well, i certainly hope they will. apparently, john boehner said we're done with taxes. the president was very clear that when meeting the economic and fiscal challenges ahead, that he wants to keep in perspective whether...
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so you're seeing a decline in the amount of deficit. the question is are the republicans really crying wolf when they continue to talk about blowing deficits when, in fact the measures that the president and congress have taken so far have actually caused the deficit to decrease. >> well, exactly. especially the last plan where we did have a balanced approach for once. but what speaker boehner has said is that the president got his revenue, and so there is not going to be a balanced approach any more. you know, when paul ryan put his budget forward last year it wouldn't have reached balance for 20 or 30 years. so as you're talking about a balanced budget in ten years the only way from their perspective to do that is absolute draconian cuts. when they're talking about reforms, you and i are very well aware that is just code word for taking medicare and turning it into a voucher. taking medicaid and turning it into a block grant which is another way of saying a significant cut to these programs that i believe are part of what makes us a g
so you're seeing a decline in the amount of deficit. the question is are the republicans really crying wolf when they continue to talk about blowing deficits when, in fact the measures that the president and congress have taken so far have actually caused the deficit to decrease. >> well, exactly. especially the last plan where we did have a balanced approach for once. but what speaker boehner has said is that the president got his revenue, and so there is not going to be a balanced...
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you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think this is something on the longer term which is what bowles-simpson was all about, something which i favored totally. so i think that was a combination of including longer-term control over some of our big expenditures, particularly in health care. and that is something we have to do. i think the president could get some things if, in fact, he addressed some of these longer term issues but he walked away from that and there's no confidence that he really cares about it. >> let's talk about common -- noneconomic things. i would have thought y
you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think...
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reform, deficit reduction. these across-the-board cuts is not going to get us there because it's going to strangle our economy, slow growth which will increase the deficit and -- the choices that people are making here are across-the-board cuts, which could be 10,000 teachers or asking oil companies to pay their fair share. that's what -- >> the victims of the sequester, it's so funny to hear democrats cry about the sequester. democrats control the executive branch, they control the senate and they're in a position to negotiate with republicans who have put out two packages of alternative cuts so -- >> take those -- >> well -- >> -- in the senate in response. that's not take it or leave it. that's like the process. they haven't been able to pass anything, the president hasn't proposed anything with three weeks away. we acted in may of last year. we acted again in december. >> senator reid is not saying he will pass a budget out of the senate this year. but i want to bring this back to jon karl because when you
reform, deficit reduction. these across-the-board cuts is not going to get us there because it's going to strangle our economy, slow growth which will increase the deficit and -- the choices that people are making here are across-the-board cuts, which could be 10,000 teachers or asking oil companies to pay their fair share. that's what -- >> the victims of the sequester, it's so funny to hear democrats cry about the sequester. democrats control the executive branch, they control the...
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the way the president moves the country forward and relates to people's fears is that he says budget deficits aren't nearly -- they're important but not nearly as important as getting the economy growing now. and that's what i want to do. chris: i'll get back to what you said, david. there is a great chance to get the american people's attention. if he makes an appeal, let's get beyond the zero sum, backettey-back bickering in washington and get some stuff done this year. can he put the republican right, i guess you have to call it the republican right, in a corner? >> if he continues this theme which i think led to his success on the fiscal cliff negotiations, which is to make the republicans the party of no at a time when americans want government to work. and i think that's the way he needs to set it up. i didn't think he did that well in his inaugural address but i think he has another chance here, and if he can make it seem as if, you know, resisting him on finding an alternative to sequestration is being the party of no, the party of the wreckers, i think he's got him in a corner. >> i
the way the president moves the country forward and relates to people's fears is that he says budget deficits aren't nearly -- they're important but not nearly as important as getting the economy growing now. and that's what i want to do. chris: i'll get back to what you said, david. there is a great chance to get the american people's attention. if he makes an appeal, let's get beyond the zero sum, backettey-back bickering in washington and get some stuff done this year. can he put the...
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after spending months focused on federal spending and deficit reduction, to day house majority leader eric cantor plans to urge his republican party to take its message in a new direction. in what's being described as a major policy speech one week before the president's state of the union address, kantor wcant to rollout a new agenda that puts emphasis on how the government can help american families in their daily lives. expected to touch on new and existing republican education initiatives, the need to simplify the tax code sh ways to curb rising health care costs and the hot issue of immigration reform. in a prespeech excerpt, he is quote the as saying, "government policy should aim to strike a balance between what is needed to aadvance the next generation, what we can afford, what is a federal responsibility, and what is necessary to ensure our children are safe, healthy, and able to reach their dreams." >>> this is going to be closely watched because it represents a rebranding of the party and the conservative philosophy away from what has been touched on over republicanism and
after spending months focused on federal spending and deficit reduction, to day house majority leader eric cantor plans to urge his republican party to take its message in a new direction. in what's being described as a major policy speech one week before the president's state of the union address, kantor wcant to rollout a new agenda that puts emphasis on how the government can help american families in their daily lives. expected to touch on new and existing republican education initiatives,...
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under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next ten years u.s. debt will increase $10 trillion from a little more than 16 trillion-dollar now to more than $26 trillion in 2023. >> you can't raise enough tax to say pay for this problem. you won't grow fast enough to get rid of this problem. you ultimately have to deal with spending. >> after 2023, the debt begins to soar. >> after that it's going to grow and reach the trillion and go beyond the trillion. so at no point in the foreseeable future is the deficit going to come down to manageable level. >> noting repeatedly high debts are bad and dangerous as he put
under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next...
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a blueprint would miss the deadline because the debate in washington over taxes, spending, and the deficit. it was supposed to be delivered to lawmakers yesterday. if you are worried about food safety the agriculture secretary tom vilsack says we need to cut back on a number of inspections on meatpacking plants unless congress can avoid the across-the-board spending cuts that take effect in march. he says the agriculture department is studying how to handlewhich could also impact nutritional programs and food safety research. we know we are in a housing recovery, but the d.c. market is on fire. i will have more on that in the next hour. live at bloomberg headquarters in new york, linda bell reporting for abc 7 news. back to you. >> thank you. we will see you shortly. 4:38 34 degrees at this hour. >> still ahead, a frantic scene in the heart of baltimore. a huge warehouse fire >> welcome back. 4:41 right now. beautiful. the washington monument. 34 degrees this morning. >> we are above the freezing mark. >> that's where we should be this time of year? >> we are working on it. we will been wa
a blueprint would miss the deadline because the debate in washington over taxes, spending, and the deficit. it was supposed to be delivered to lawmakers yesterday. if you are worried about food safety the agriculture secretary tom vilsack says we need to cut back on a number of inspections on meatpacking plants unless congress can avoid the across-the-board spending cuts that take effect in march. he says the agriculture department is studying how to handlewhich could also impact nutritional...
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we talk about needing a balanced approach to cut this deficit, but why exactly do we need a balanced approach? it's not as if the economy distributes its games in a balanced way. if over the last ten or 15 years wages had gone up equally and profits had gone to the top 1% in an equal way, then you can say we need to rein in the deficit. instead, it seems like all of the games go to the top 1% but when it's time for pain, that we're going to spread across. that we need to give to social security, medicare, medicaid and we can't touch taxes. >> ryan grim and shira, have a good weekend. good luck. >> thank you. >>> snow is starting to fall across the northeast and forecasters say before it's done, this will be one for the record books. stephanie abrams is live for us in new york city's times square. good morning. >> reporter: chris, good morning to you. in times square, we have seen it all. nemo has been a triple threat, rain, sleet, and snow. laguardia and central park have been reporting all snow throughout the morning hours and it's not only new york. it goes into connecticut. and ne
we talk about needing a balanced approach to cut this deficit, but why exactly do we need a balanced approach? it's not as if the economy distributes its games in a balanced way. if over the last ten or 15 years wages had gone up equally and profits had gone to the top 1% in an equal way, then you can say we need to rein in the deficit. instead, it seems like all of the games go to the top 1% but when it's time for pain, that we're going to spread across. that we need to give to social...
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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incorporrted.it showss hat ballimooe willlaacumuuaaee$7455 miilion dollaas in budget deficits ooer the nexx decade... due to a wideningg - and expenditures.if yyuuadd in the city's iifrastruuture peeds nd also itts llabilityy for retiree healtt care 3 shortfall reachee $2-billlon dollars over 0 years.the & report goes on to say that baltimorees city governmenn must enacc major rrffrms to avoiddbankrrptcy. &3 we now altimore hassdelt withhbudget deficits before. - you may remeebee city government closed a $121 million dollar buget gap in p2-10... y enacting somm new taxes... like tte tax on bottled beverages and igher hotel andd arring levves.buu exxerts say those wereeone--- time fiies... and didn't address theelong-ttrm consulttnggfirm that diddthe report... prepared imilar forecasts for mmami... phiildelphia... pittsburgh and d--cthe news is expecteddto be peleased o the public at poday's city council meetinn. 3&pwe'rr hooing toohear from the - mayor at that tiie.aad poosible solutions.as for the more whaatexperts say is to blame in justt30 min.i'm megan gilliland ffx455morning news.
incorporrted.it showss hat ballimooe willlaacumuuaaee$7455 miilion dollaas in budget deficits ooer the nexx decade... due to a wideningg - and expenditures.if yyuuadd in the city's iifrastruuture peeds nd also itts llabilityy for retiree healtt care 3 shortfall reachee $2-billlon dollars over 0 years.the & report goes on to say that baltimorees city governmenn must enacc major rrffrms to avoiddbankrrptcy. &3 we now altimore hassdelt withhbudget deficits before. - you may remeebee city...
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the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus civilian defense contractors. >> it's an idiotic management nightmare to try to run a complex sophisticated, long-term program when you have short-term, massive cuts. >> reporter: deep cuts also loom in social services. outgoing defense secretary panetta slammed democrats and republicans for their game of chicken. >> let's see how bad it can get in order to have the other party blink. >> reporter: some senate republicans today said push the deadline back seven months. but house speaker john boehner said in effect he will not blink. >> at some point, washington has to deal with its spending problem. i've watched t
the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus...
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and we had a debate whether we take a balanced approach to deficit reduction as you described. one that asks the wealthiest americans to pay a bit more while making sure we reduce spending and make responsible spending cuts without cutting the legs out from under the economy. and i'm sure mr. bernstein would agree that as the economist i heard when i was a member of the budget committee repeatedly say that you can't cut so much so fast because in a recovery that is already more fragile than we'd like to see, you want to make sure you don't slow or stall that recovery. that's what the republicans are risking. it's really -- you know, i wish and i know that americans across the country wish that there would just be a massive outbreak of responsibility in the republican conference so that we could bring them to the table, sit down, and work together to avoid massive spending cuts which they seem willing to allow to happen. >> a massive outbreak of responsibility. wouldn't that be a great occurrence? let me ask you, jared. you may agree, but senator mitch mcconnell clearly doesn't
and we had a debate whether we take a balanced approach to deficit reduction as you described. one that asks the wealthiest americans to pay a bit more while making sure we reduce spending and make responsible spending cuts without cutting the legs out from under the economy. and i'm sure mr. bernstein would agree that as the economist i heard when i was a member of the budget committee repeatedly say that you can't cut so much so fast because in a recovery that is already more fragile than...
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the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the republicans have a different approach. we believe we have to rein in entitlement spending, the budgets up until now. again across the aisle and on the other side, they're unwilling to handle. >> we'll leave it there. thank you. >> let you both get back to work. thanks for joining us. >> thank you. >> appreciate your time. thanks very much. isn't it nice to know in two weeks you haven't missed anything? >> this sounds familiar. >> 40 minutes before the closing bell sounds. dow down 103 points. >>> google getting downgraded after a record high on friday when we allegedly hit 14,000. why did that happen? and are you
the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the...